S Tel to invest Rs.700 Crores

S Tel, a joint venture between Siva Group of Chennai and Bahrain Telecom (Batelco), on Wednesday announced an investment of Rs 700 crore for the acquisition of 3G spectrum and roll out of services.

The company will be paying Rs 338 crore to the Department of Telecom (DoT) for 3G spectrum in three circles — Bihar, Orissa and Himachal Pradesh — and the remaining fund would be invested to roll out 3G network, Shamil Das, CEO, S Tel said